Aug 02

How much does handyman business insurance cost

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This is a fantastic time to be a business owner. Thanks to technology, it is possible to have a clientele based all over the world. You’re no longer dependent on one supplier. You have multiple options to choose from.

Such conditions have ushered in a new era where small businesses are thriving. Thanks to the developments in the insurance business, there is a wide variety of options for all businesses to protect themselves from unforeseeable events.

Handyman business is one of the multiple businesses that stand to benefit from these options. Handyman insurance is the primary option opted for by handymen. It covers almost all the expenses incurred by them in terms of small repairs as well as construction related expenses. However, there are factors other than just these options that they need to take into consideration.

The cost is one of them. While you can find inexpensive handyman business insurance at, it’s best to know how much each option is likely to cost you. And most importantly, what you’ll be getting for your investment.

So here’s everything cost-related to handyman insurance that you need to know.


Commercial General Liability

It is important and beyond question that you have handyman insurance for each job that you take. One of the benefits of being in the handyman business is that you get to choose which job you want to take and which not to take. However, you also need a separate general liability policy to cover each job. The benefit of having this policy is that should you be on someone else’s property and cause damage, then you’ll be protected by a $1 million policy. You can get this for just $1000 per year. This policy covers not just you but all the other sub-contractors and advertising campaigns that you may have run under the banner of your business.


Worker Compensation

It is necessary that you have a formidable insurance plan in place for all your workers. Having worker compensation would cover all the liability incurred by your company if your employees are ever injured while performing their jobs. It covers all the medical expenses as well as all other expenses that you’ll most likely incur. Premiums to get this sort of a policy can range anywhere from around $500-$5,000 depending on the number of workers, skill set of the workers and the jobs they’re performing.

Having this policy covers you for up to $1 million per claim. This will also cover the missed wages while your employee recovers from their injuries.


Umbrella Insurance

This is the “one fit for all” kind of insurance policy and acts as an extension for any other policies that you may already have. It covers your general liability, worker compensation and commercial auto insurances. By paying $800-$2000 annually you can get yourself covered on all these fronts for claims up to $1 million.

As an added bonus, it will add $1 million to any existing policy that you may have. So if you already have a $1 million general liability, this policy will bring your claim to $2 million.




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